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March 12 Chart of the Day - Abbott Laboratories

March 12 Chart of the Day - Abbott Laboratories

Abbott Laboratories (ABT) is a S&P 500 company that manufacturers many popular products in the therapeutic areas of cardiovascular, diabetes, diagnostics, neuromodulation, nutrition and pharmaceuticals. Some of its well-known brands include Similac, PediaSure, Pedialyte, Brufen, Klacid, Alinity, Ensure, FreeStyle, iStat and MitraClip.

Abbott is often in the headlines for various reasons so today we wanted to review their chart from a price action technical analysis perspective.

Wait until you see the pattern we discovered on this chart!

March 11 Chart of the Day - Davita

March 11 Chart of the Day - Davita

DaVita Inc (DVA), is a provider of dialysis and integrated health care management services. They also are reported to be one of Warren Buffet's top holdings so we wanted to review their chart from a price action technical analysis perspective.

At first glance we found that price was essentially trading at all time highs (ATH) and wasn't all that surprised especially because the Oracle of Omaha is involved.

Using Fibonacci and trend see where price could potentially be heading...

March 8 Chart of the Day - Cloudflare

March 8 Chart of the Day - Cloudflare

Cloudflare's stock rose quickly last month following its February 8 earnings report, exceeding analyst expectations and they also issued a rosy forecasts. The company accomplished impressive revenue growth last quarter and forecasted 27% growth next year.

Given all that we wanted to review their chart from a price action technical analysis perspective.

You'll definitely want to see what we uncovered on this chart!

March 7 Chart of the Day - BJ's Wholesale Club

March 7 Chart of the Day - BJ's Wholesale Club

Shares of BJ's Wholesale Club (BJ) are moving higher today as the company posted its fourth-quarter earnings, beating Wall Street expectations on the bottom line, but missing on the top line.

The irony in this is sometimes when a company does this their stock price goes down and sometimes it goes up so we wanted to review it from a price action technical analysis perspective.

March 6 Chart of the Day - Mitsubishi Financial Group

March 6 Chart of the Day - Mitsubishi Financial Group

Tokyo based Mitsubishi Financial Group, Inc. (MUFG) is a leading global financial firm with 2,700 locations in over 50 countries and regions. The company offers worldwide comprehensive and tailored financial solutions to their clients.

The company is reported to be one of Warren Buffet's top 30 holdings so for that reason alone they garner a lot of media attention.  So we wanted to review their chart from a price action technical analysis perspective.

March 5 Chart of the Day - Verisign

March 5 Chart of the Day - Verisign

The company is in the news this week because as the headlines indicate their stock price is down and lagging the tech sector so we wanted to review their chart from a price action technical analysis perspective.

Warren Buffet, the "Oracle of Omaha" reportedly holds a significant position in Verisign so they often gets scrutinized by the media for that reason alone.

Wait until you see the pattern we found on this chart!

March 4 Chart of the Day - Ares Commercial Real Estate Corp.

March 4 Chart of the Day - Ares Commercial Real Estate Corp.

According to published reports Bank of America has downgraded six players in the Commercial Real Estate mortgage REIT sector, citing interest rate headwinds and weakening fundamentals that spell a [potential] “rocky road ahead” for the industry.

Ares Commercial Real Estate Corp. (ACRE) was flagged by BofA with notable concerns that include a significant office exposure and looming portfolio maturities, alongside recent credit issues and a dividend reduction.

Today we'll review their chart from a price action technical analysis perspective.  One of the first things we noted was they are not trading at all time highs (ATH)...

March 1 Chart of the Day - Novo Nordisk

March 1 Chart of the Day - Novo Nordisk

Makers of diabetes prescription drug Ozempic (weight loss), Norvo Nordisk (NVO) has been one of the most requested charts during the past several weeks.

We've been putting off our review simply because price continues to make new all time highs (ATH) week after week but today we'll apply price action technical analysis to determine if there are any potential pull back levels where investors or traders could possibly enter.  

With that said here are just the charts...

February 29 Chart of the Day - Autodesk

February 29 Chart of the Day - Autodesk

Autodesk (ADSK) creates software products and services for the architecture, engineering, construction, manufacturing, media, education, and entertainment industries.

The company reports earnings after market close today so we wanted to review their chart from a price action technical analysis perspective.

The market is implying about a $17.50 move in either direction by the end of this week so that indicates to us quite a significant move in a short amount of time.

See where price could be heading...

February 28 Chart of the Day - First Solar

February 28 Chart of the Day - First Solar

First Solar (FSLR) is making headlines today after reporting 4th quarter earnings with positive full year guidance per published reports.

Shares are trading about 2% higher today near $148 and the fundamentalists would lead you to believe that's because of the rosy outlook...

But us "chartists" that use price action technical analysis wanted to review the chart to see how price has been behaving over the long term.

We uncovered a pattern most traders don't know how to spot.

February 27 Chart of the Day - Norfolk Southern

February 27 Chart of the Day - Norfolk Southern

Norfolk Southern (NSC) railroad is making headlines this week because of a good ole fashioned board fight led by Ancora Holdings!  At stake is control of the company.

Learning of this we wanted to review the company's chart from a price action technical analysis perspective.

February 26 Chart of the Day - Lowes

February 26 Chart of the Day - Lowes

Lowe's Companies (LOW) is scheduled to report earnings before market open on Tuesday February 27 so we wanted to review their chart from a price action technical analysis perspective.

We intentionally waited until the last hour of the regular trading hours (RTH) so as to obtain the latest at the money straddle options cost to determine what move the market is anticipating in either direction by the end of this week.